10 Ways To Get More Profit Out of Your Business Today. 10 Ways To Get More Profit Out of Your Business Today As a business owner, it’s essential to be constantly on the lookout for new profit-making opportunities. What you may not realize, however, is that creating a business within your business can be one of the best sources of hidden profits there is — in fact, most businesses have multiple ways of increasing profits just waiting to be discovered. The following 10 profit boosting actions can be done without any extra cash investment. Plus they are environmentally friendly because you won’t be using any extra gas, paper or other natural resources. 1. While it may not be the most original way to increase your business profits, product mark-ups can be quite advantageous. Read also: Measuring development 2.
If you have an overabundance of clients in an unmanageable amount, don’t stop taking on new ones; instead, partner with another business and client-share in exchange for a cut of the profits. 3. 4. 5. 6. 7. 8. 9. 10. How Do I Build a Business Plan? (Infographic) How Do I Build a Business Plan? (Infographic) You have a powerful idea for the next big thing, but before you sell it to anyone, you have to get it all down on paper.
It’s time to make a business plan. How do you know if you’re headed in the right direction? Washington State University created an infographic that provides 10 guidelines to help prospective entrepreneurs organize their thoughts and wow potential investors. Related: When Planning for the Future, Keep Your Past in Perspective The infographic details some major questions that aspiring CEOS need to ask themselves like, what problem is my business going to solve, what’s my company’s mission, and what do we do better than anyone else in the market? But you aren’t quite done yet. Related: A Business Plan for the Startup Economy For more information, like how much funding you’ll need before applying for a small business loan (that’s 30 percent), check out the infographic below.
Related: Business lessons from the world of intelligence. Investing for Beginners: Four Things You Need To Know Before You Invest. Investing for Beginners: Four Things You Need To Know Before You Invest Do media headlines celebrating Wall Street’s recent record highs, coupled with historically low interest rates have you wondering if now’s the time jump two feet first into the current bull market? While buying investments when the economy is showing signs of strength (and continued growth) may indeed present an opportunity to start building wealth, there are some investing realities to consider before you start dreaming of hitting it big in the market.
Here are four critical things to know before you invest. Don’t try to predict the unpredictable. In the words of financial expert and Kiplinger columnist Steven Goldberg, “virtually every simple method for timing the stock market is hogwash.” Stick to proven strategies. You’ve probably heard about buying low and selling high, but for the very reason noted above, there’s a lot more to that idea than most novice investors can manage.
Don’t eat into your own profits. Top 5 digital technology market investments. Top 5 digital technology market investments 1. E-commerce and marketplaces In 2014, nearly $15.5 billion was invested in e-commerce with online marketplaces making up the majority of that investment, accounting for nearly three quarters of the total investment and just under half the deals. Annual investment in marketplaces has increased steadily over the past four years for two broad reasons. Firstly, the one-size-fits-all e-commerce model pioneered by Amazon and eBay has reached investor saturation. 2. Not every marketplace is part of the sharing economy and similarly the sharing economy embraces far more than just marketplaces.
In investment circles, the sharing economy will continue to attract an enormous amount of cash as mature businesses in this space continue to try and scale. 3. The way we pay for our goods, bank online, borrow money and transfer money is fundamentally changing. 4. After all, this area is incredibly ripe for innovation. 5. Financials. Moxie uses a broad spectrum of structural finance and business disciplines. Since its formation, Moxie has, most of the time, delivered very satisfactory results including the last full year, 2014. Some years results may be characterized as excellent. The building up of equity has been very satisfactory. Profit and realised capital gains are continuously being reinvested in both existing and new businesses. Moxie AS is an AAA credit rated company (Bisnode/Dun & Bradstreet/AAA Soliditet). The engagements in which Moxie is involved, are carried out through the parent company, its subsidiaries and associated companies, and through loans and equity investments.
The booked equity ratio is more than 80 %, and in addition to this there are substantial unrealised values in subsidiaries and associated companies. “Press Release Annual Accounts 2013” The Comment Group and the business of hacking. Norway's Sovereign Wealth Fund Ramps Up Investment Plans. Crowdfunding Expands To Local Real Estate Investments.
Photo: Gretchen Frazee Mainstreet executives meet with potential investors during a pitch meeting in Bloomington. Crowdfunding, where companies ask individuals to directly invest in their product, is being expanded to a new arena: real estate. When many people think of crowdfunding, they think of sites such as Kickstarter. In that model, for example, a band might need money for a CD. They ask people to contribute, and, in return, those people get a CD or, if they donate a large amount of money, a private concert. But crowdfunding is taking off to a whole new level. Real estate developers are starting to use crowdfunding sites to ask for contributions to their projects—and in return, you become an investor. How Real Estate Crowdfunding Works Take real estate investment company MainStreet as an example.
The facility would offer an alternative to nursing homes and at-home care when people are discharged from the hospital. The Risks and Rewards of Crowdfunding “We’re always looking to innovate. Innovating the Future of Business. In my previous article (The Value of Collaboration in Business), I wrote about Collaboration, one of the themes featured in the Economist Intelligence Unit’s Foresight 2020 report. It is one of the three themes that were developed into separate research projects following the main report. In this article, I will discuss another one of these three themes, which is innovation. The separate report on innovation called Innovation: Transforming the way business creates is centred on the importance of innovation in the corporate world, illustrated through a survey of 485 executives. One interesting point of the EIU’s survey is the cognitive aspect of innovation.
Apparently, more than innovation itself, the recognition of innovation’s importance may in itself influence a business’ or an executive’s success. Through my investment company, Moxie AS, one of my goals is to put some systematic approach into innovation. Just last September 2012, Robert D. Share this on Social Media Websites. 9 Life Lessons for Every Entrepreneur. Gordon Dean was an American lawyer and prosecutor whose distinguished career was fairly typical for Washington types. He went to work for the Justice Department under President Franklin Roosevelt, and taught in the law schools at Duke University and the University of Southern California. He was appointed one of the original commissioners of the Atomic Energy Commission in 1949 by President Harry Truman, eventually becoming its chairman from 1950 to 1953. In short, he's hardly the usual suspect to offer entrepreneurs advice in 2012.
Stick with me. When Dean died in a plane crash in 1958, it’s said that among his personal effects was an envelope with nine life lessons scribbled on the back. These are his superb lessons: Never lose your capacity for enthusiasm.Never lose your capacity for indignation.Never judge people. The reason I’m so impressed with Dean’s lessons is that--besides being written on an envelope--they apply across the board, to all ages in every profession.
The Value of Collaboration in Business. “The future belongs to those who collaborate”, so begins the Economist Intelligence Unit’s (EIU’s) report called Collaboration: Transforming the way business works. Released in 2007, the said report is one of the three separate reports that sprung off from an earlier report of the EIU called Foresight 2020. I will discuss the other two themes that inspired special reports on future posts; but for now, let me zero in on this growing concept in business: collaboration. The EIU paper broadly defines collaboration as working together or “co-labouring”. The study focuses on collaboration between or among organizations that bring people and institutions together from different geographical, socio-economic, or professional backgrounds.
According to the study, “learning to collaborate can help companies address three imperatives: move fast, move efficiently and grow the firm”. On the individual level, one of the most recent trends in professional collaboration is co-working. What Business Leaders Can Learn From the Boom of Genealogy. Just recently, Bloomberg Businessweek placed genealogy website Ancestry.com on the limelight because of its ability to dominate the online genealogy industry. Through its growing group of genealogists and researchers, the website has unearthed long-distance linkages of well-known celebrities, the most recent of whom is US President Barack Obama.
Apparently, a huge chunk of the general online population is becoming increasingly interested in knowing about their family lineage. In fact, the Businessweek article cites that “genealogy ranks second only to porn as the most searched topic online”. Such great feedback has driven Ancestry.com to the peak of success as a business enterprise. 1. This, in fact, is what numerous entrepreneurs have been exploiting for so long. 2.
More than valuing connections and relationships, people are now, more than ever, eager to forge and create new relationships. 3. Genealogy is used for more than just vanity’s sake. Share this on Social Media Websites. Competition for businesses. Some people would argue that competition is the lifeblood of business. In a recent blog entry for the Harvard Business Review, author David Shields talks about A More Productive Way to Think About Opponents. In the piece, he reveals that an unhealthy and unproductive mindset towards competition comes from a shift from a “partnership metaphor” to a “war metaphor” in dealing with the subject. Shields uses the term decompetition referring to the context of competition as “striving against”, as opposed to “striving with”, which is, he says, the original definition of the term.
He then proceeds to describe the consequences and negative effects of a culture of decompetition among business organisations. Of course, the article also recognises that it is not easy for most people and organisations to get rid of this kind of mindset, as it is pretty deeply embedded in modern business culture. I think every businessperson would agree that competition is an essential aspect of business. Organising your organisation. Indonesia’s national emblem is called Garuda Pancasila. It pictures the mythical bird Garuda with a shield on its chest and gripping a claw with its legs. The scroll reads: Bhinneka Tunggal Ika, meaning “Unity in diversity”. Interestingly, the current official motto of the European Union is “United in diversity” and previously it was “Unity in diversity”. According to the European Commission: “The motto means that, via the EU, Europeans are united in working together for peace and prosperity, and that the many different cultures, traditions and languages in Europe are a positive asset for the continent.”.
This emphasis in fostering unity and coherence in an otherwise diverse and fragmented group of entities is not just confined to the realm of nations or state organisations, but has saturated the world of business as well. In a recent entry for the Harvard Business Review Blog Network, author Brad Power provided three tips on Keeping Work Organized when Your Team Is Fragmented. Social mobility and inequality. Why is it that, despite the supposed economic breakthrough brought about by globalisation, most people still find it a challenge to move up the social ladder? Economists’ (rather obvious) answer? Unequal societies. Numerous studies have previously explored this link between social mobility and inequality, but an economist named Gregory Clark from University of California, Davis uses an interesting method to do research on this theme: studying surnames.
The main idea is this: there are a few surnames that can be identified as aristocratic or upper-class for a previous generation, and by looking at how the same surnames are presently distributed among social classes insight can be provided as to how “mobile” a particular society has been throughout several generations. In a study conducted by Clark and another scholar from the City University of New York, Neil Cummins, they found out that around 70-80 % of economic advantage appears to be transmitted from one generation to the next.
Business Lessons from Chess. Some people say that chess is the game of kings, and the king of games. This regal allusion to chess is probably due to the fact that the literal aim of the game is to protect a “king”. Chess is often linked to business management because the two share a lot of elements, such as strategy and competition. And there is, of course the ever-relevant figurative importance of “making the right moves”. Nevertheless, there are numerous lessons that business leaders can learn from the universe of chess. These lessons come in two levels: the practical and the metaphorical. On the practical side, chess is related to business because chess can be a business in itself. And like all other businesses, professional chess is subject to significant changes along with the advancement of technology. On the other side of the coin is business as a chess game in the metaphorical sense.
Knut Harald Nylænde is a businessman and investor residing in Oslo, Norway. Improving productivity. “When you’re running as fast as you can, what you sacrifice is attention to detail, and time to step back, reflect on the big picture, and truly think strategically and long-term.” (Tony Schwartz on The Productivity Myth, 2010). Having read articles and listened to talks recently about productivity, I find a steadily rising trend of trying to disprove the efficiency of multitasking. What may be the reason for this? It may sound counter-intuitive, because the definition of productivity is, for the average person, being able to do many things in the shortest possible time. However, as most productivity and human resource experts posit, multitasking actually reduces the quality and quantity of work and even takes a toll on the overall wellness of workers. Tony Schwartz, a former journalist, has made it his advocacy (and even his business) to convince workers and companies of the importance of energy renewal to productivity and performance.
In another article written by Schwartz (Relax! The core of management.